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don't want toyite yait a government? why is that so radical? >> they're coming up with crazy ideas every day. >> please, get out of here. get out of here. >> yes. okay. >> i have this test if you're like staying in a hotel and have to share a bathroom who would it be? a tea party supporter or occupy wall streeter? >> i would say tea party. >> if i had occupy, boy need a rape prevention kit. there are tons of raid cals and idiots as i call them. >> thanks for watching tonight. i'm greg gut feld. bill will be back for the start of the factor's new season january 2. please remember, the spin stops here because we're looking out for you. captioned by closed capt services, inc. >> sean: and this is a fox news alert. earlier today in a pathetic last minute effort to avoid the nation falling off the fiscal cliff president arnold palmer took a mini break from the golf schedule to summon congressional leaders to the white house. a last minute mini deal could be struck before the end of the year that would preserve tax cuts for the middle class and preserve unemployment benefits. the preside
can move forward? >> well, first of all, we have to be able to govern. we have to have an adult conversation, getting people in the room who actually want to solve this problem. and i think it's very important to step back and see the fact that we have already -- there are three parts of this deficit reduction stool. we've already in the past two years passed $1.6 trillion in spending cuts. we've passed over $700 billion in savings in medicare through reforms like cutting back on overpayments to insurance companies. the one piece of this puzzle that we've not been able to get any support for is making sure that the wealthiest among us help solve this problem by being willing to pay a little bit more to be part of the solution. so we have sent a bill to the house back in july, bipartisan bill that says what -- everybody says they don't want middle-class families to have their taxes go up, well, fine. why don't we start with something we can agree on, which is that? and just pass that. why doesn't the house just pass that? but as we know, the speaker couldn't even pass his own pla
are again here like we were for the debt ceiling, like we were for the government shutdown. it is ridiculous that we are here because we want to be having a big discussion. we have all the facts in front of us. we know that there are people like you kwhof a position on taxes. we know there are others who have positions on other things. and our democracy is supposed to allow us to somehow come to together, to convene, to deliberate and to evolve some sort of a compromise. what response -- what responsibility do you think conservative republicans who have signed this pledge to grover norquist bear for us getting to where we are today? >> well, actually, let me defend grover for a second. >> sure. >> he actually has signed on to some kind of a deal. we're in a situation that if nothing happens taxes go up on everyone. so -- and then a guy like me doesn't want to see that happen obviously. look, i want to make one other point. even if we go over the so-called cliff, and i think cliff is a bad metaphor here, really kind of a slope. it's not like the world's going to come to an end january 1st or
real trouble just doing basic run of the mill governing stuff. bills failing unexpectedly and needing to be pulled at the last minute and tried again. the republican leadership's own legislation failing to get enough republican votes to pass. and that happening in public because they couldn't count it properly in private? they did get better at all the symbolic stuff that does not have real world consequences. they may not have been able to find their way through the constitution on the first day in the majority. but they did figure out how to fake symbolically repeal obama care 33 separate times. it didn't mean anything, but when there were things that didn't mean anything that were just symbolic, ultimately they figured out that they could get some of that stuff done. but when things really did matter, like in the debt ceiling standoff, when the republicans decided to block something they happily voted for dozens of times under republican presidents, they did end up having to vote to raise the debt ceiling, but not before they pushed the fight so far and so late that the nation's bo
a deep channel. >>> and america's population growth is slowing down. the government says it's due to lower birth rates during the economic recession and lower immigration numbers. as we start the new year, there will be 315 million people in the united states. the population, though, has grown less than .75% since 2010. so a slower rate of growth. still, 315 million people is -- >> seems like enough people in some places, that's for sure. thanks, lisa. >>> hopes have been crushed and families in the making ripped apart. a new law bans americans from adopting russian children. ng tom about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. >>> from what we surmise, this meeting at the white house between the presiden
? >> is hard to imagine it could be worse. a selloff if we have the same sort of thing the government shutting down after they pulled all the lovers and the police and run out of money. it gets pretty ugly. gerri: next year, 2013, what will be the big drivers of the economy? what do you see coming up? >> the good news will be the housing sector improving a lot. more progress in the auto sector. there is still a lot of replacement to be done, so that is good. my feeling is if they survive, manufacturing will grow. altogether this is good for 2% growth because the consumer continues to be weighed down by slow wage growth. gerri: everything three imposes. they were not very good. speak of the continued to buy cars. people becoming much more prudent with everyday items. i was sitting with my graduate students and some talk about buying clothes for one location. i don't hear that anymore. i think people are more prudent with everyday expenses and they have divided car and it will make them last longer. gerri: maybe there will be some kind opent up demand. do you see them moving off their policy of
in western syria. witnesses say a government warplane dropped bombs on a bakery today where long lines of people were waiting just to get some bread. more than 100 people are dead now. i want to talk to cnn's mohammed j j jamjoon. >> reporter: it's horrific details that have emerged the past few hours since we first reported this bombing. activists tell us that around 3:00 to 4:00 p.m. local in syria today that this warplane dropped this shell on this bakery. they say that hundreds of people were lined up outside, that there had been shortages of food throughout the last week. this was the first day that that bakery that had been hit was open and that because of that, at least 100 people they say were killed. the video that we've seen posted online, we can't independently verify it, but it seems to be corroborated by what we've been told by activists. it shows an absolutely grisly scene, mangled bodies in the wreckage of the building and the rubble. you see rebel free syrian army soldiers and civilians trying to tend to the wounded, taking them to the hospital and pulling dead bodies o
. syria's government, however, today posted a statement on their syrian news agency website in which they blamed this on the actions of terrorists. that's the terminology they use for rebel fighters, opposition fighters in syria. they say that that town was targeted by terrorists and that because of that residents in that town called for the military, for the syrian military to intervene to help them to bring safety and restore security in that area. again, the residents we speak with clearly blaming the regime, and it's one day later and we hear of an attack on another bakery in the homs area. this is in the last few hours. you mentioned it a few minutes ago. we heard at least 15 killed, several children. very gruesome video. you see the corpse of a woman being pulled from the rubble there. the rage of the residents there about this happening is element indescribable. suzanne. >> is there any way of finding out? you have two very different stories. any way of finding out whether it's an international -- through an international body or people on the ground, who was responsible for b
was going on? why wasn't our government helping? >> it was bewildering. the parents tried to do it low-key. they couldn't get the case resolved. they came to me and our two wonderful u.s. senators. thanks to fox. thanks to o'reilly, sean hannity, greta, all of you were so helpful. all the press helped but you guys came to bat. that's why i don't really understand or believe that during a white house press briefing that the white house spokesperson said, oh, i don't know about the case. baloney. everybody had known about the case. gregg: they knew. >> we had been bringing that up. gregg: right. >> this is a family of strong christian faith. for them, as we celebrate the birth of christ tonight what a more meaningful present than, than the god delivering their son to them tonight. gregg: look, we want to talk to you about a couple of subjects here and that one, thankfully turned out well. let's turn now to benghazi because you are very involved in this. an independent investigation, i know you read it, produced this blisser iting report what they refer to as systemic failures in the very
of the deliberative process. he heads an entirely separate branch of government with an altogether different purpose. i think we need to go back to the way the government was designed to operate, and that is the deliberative function, in the legislative branch, both the house and the senate, acting independently. and then resolving their differences through conference. that process works, it works very well. this business of a couple of legislative leaders and the president going behind closed doors, coming up with some clever scheme, and then dropping it in the laps of the congress for a take it or leave it vote produces bad policy. in fact, bad process also produces bad policy, and that's what we're seeing. >> congressman, we've been seeing virtually no progress to date, but i hope folks have your optimism about not going over the cliff because of the disastrous implications. congre congressman mcclinton, thanks for coming on. >>> chuck hagel hasn't even been formally nominated to be the next defense secretary, and he's already taking right hooks from members of his own party, but do the attacks a
geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm eamon javers is live. what do we know? >> the president is coming back early, a couple days earlier than his vacation. did a little bit of jogging, working out in the gym over his vacation. now he will be,ing would out on this fiscal cliff. the senate is coming back and the house of representatives is going to have a conference call for all republicans later on today and then yesterday, we saw the secretary of the treasury, tim geithner, announced the $16.4 trillion debt limit is going to be reached by monday, that was a little bit surprising to people who haven't been following this kind of thing and raises the stakes for the fiscal cliff end game because the white house had wanted a debt ceiling deal as part of the overall deal here on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still
's government unleashes its most sophisticated weapons of the war. missiles from iran. we'd like to welcome our viewers here in the united states and around the world. wolf blitzer is off today. i'm candy crowley and you're in "the situation room." >>> i want to begin with a crisis you probably don't know is coming and, of course, is just about to hit. barring a last minute deal, union dock workers at more than a dozen major ports will go on strike this weekend. meaning just about everything we buy, from clothes to cars, can't be unloaded. the strike would impact 14 port along the eastern seaboard in gulf coast, including the port of baltimore and that's where we find cnn's brian todd live. the potential impact of this is pretty big. >> reporter: it's huge, candy. right here, this is one of the most crucial ports for commerce in this region. the sieger terminal. you can see massive container ships sitting in port. this is the port terminal with the bustling operations, containers still being moved in and out of here by a truck that are being offloaded from the ships here at the terminal. about
said the government will blow through the borrowing limit that congress set in 2011. he warned the window to act is narrow or else a treasury could default. in washington, lisa will walk us through. first, let's explain what exactly the debt limit is and it sounds like maxing out a credit card, but not precisely so. >> that's right. it is not like maxing out your credit card. we are going to make it as interesting as possible. it is important. the debt limit is not like maxing out your credit card. this is money we spent as a nation. this is a lot more like buying a house. committing to a $200,000 house and signing the papers and imposing a rule on yourself that you can only borrow $100,000. you need $200,000 and you spent the money, but you have the cap that you imposed on yourself. that's what the debt limit is. we will look at where we are with this handy graphic. the debt limit is $16.394 trillion. where are we now? we are at 16.337. we are just under the limit. almost reached our capacity. >> getting that far, it's our own fault and putting ourselves in this predicament. o
fiscal cliff deal. meantime, treasury warns the government will hit its legal borrowing limit by monday. it's thursday, december 27th, 2012 and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. i'm andrew ross sorkin along with joe kernen. becky continues to have the day off today. our guest host today is bob broska. house speaker john boehner urging the senate to come up with a passable fiscal cliff solution. he's promising to at least consider any bill that the upper chamber produces. senate majority leader harry reid now expected to base any legislation on a bill passed earlier this year to continue tax breaks for households will incomes below $250,000. a senate bill would likely contain an extension of expiring unemployment benefits. and the other big news of the morning, treasury secretary tim geithner unveiling a plan to buy time under the debt ceiling. in a letter to congress, geithner saying that treasury is going to begin taking steps this week to delay hitting the government's 16$16.4 trillion borrowing limit. treasury will tak
geithner has warned congress hat u.s. will reach its debt ceiling on monday. that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a liquid diet an his condition is listed as guarded. his spokesman quotes him as saying i'm determined not to be dprumpy with all of this. >>> toyota has agreed to pay up in a major way, $1.1 billion to settle a class action suit over sudden acceleration issues. under the deal toyota will install a brake override system in effective cars. it will also set up a fund of $250 million for former toyota owners who sold their cars from september of 2009 through all of 2010. that money would compensate owners for their car's reduced value becaus
government, not raise taxes. it's not for 500 years or two generations. it's only as long as you're in the house or the senate. if he stayed too long, that's his problem. but you don't tell the bank, oh, the mortgage, wasn't that long time ago? if you make a commitment, you keep it. >> coming up, was mitt romney done in by his own party? when we come back, the republican presidential candidates who may have inflicted mortal damage on him rather than president obama. >> i'm just going to go back to the empty chair, which was going to be todd akin, who was going to talk to me about what hide said about rape and women. since it's just the chair, my obvious question would have about why are you such an offensive idiot to women? and the second obvious question, which again has to go to the chair unfortunately, would be why haven't you resigned yet? anyway, let's leave it there, shall we? they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. make a wish! i wish
amounts to 8 1/2 days of government spending. he's willing to raise everybody's taxes and hold the country hostage over the issue and the economy hostage because he so wants his rate increase for 8 1/2 days of spending? tell me where the sense in that is. >> you know, you know, i'll give you this. you are strong on principle, sean. but let me tell you something, you are way, way out of line with the thinking of the american people. it's something like 60% now, i think it's in the mid-50% of americans who approve of president obama's handling of the budget negotiations. the president cut his vacation short. and you talk about the senate doing nothing. >> let me ask you this. >> the senate has passed a bill that would give an extension of the bush tax cuts to 98% of americans, sean. 98%. john boehner, a guy i like very much, but john boehner's ratings are now lower than nancy please sis. that's what the american people think about the way the republicans have handled it. >> the senate hasn't done their job in 1300 days and somehow, brent, the blame is on the republicans who did pass a bill,
, but public policy makers, people who are in government need to look after public employees whether they're firefighters or teachers. and these kinds of weapons -- we're talking about urban situations as well. there's no argument, not a hunting argument, not a self-protection argument for this kind of weapon. and i think that's where the political debate is going to go shorply when it comes to assault weapons. >> if you go with lapierre about arming our teachers and schools, we should arm firefighters. where does it end? >> which no firefighters would want. and how are you supposed to check as well in a firefighter situation what the mental state of the person you're trying to rescue is? it makes no sense at all. and again, if you are leading, you're an executive in government you have to look at our employees as well. >> one of the things that struck me about the press conference and on meet the press, is the number of factual errors from lapierre. we're going to look at this and talk about it on the other side. >> killers, robbers, rapists, gang members, violent crime is increasing aga
branches of the government not willing to make the deal they know they have to make. everybody wants to play the blame game. this is about to put us over the edge. >> perry, i want to start with you. if perception is reality and the blame is going to matter to somebody, which side is it really going to matter to? ivities the blame is on both sides. what's driven this whole process is republicans are very opposed to -- just the republicans who will vote for any tax increase. we learned last week from the plan b vote. once we go over the cliff, republicans are ready for a tax cut, not an increase. right now that's what the big challenge is. >> chip, is that the biggest strategy here, get to the third and pass the third, the new congress comes in, boehner danger doesn't exist anymore, his speakership stays in place and grover norquist gives a thumbs up to up? >> i don't think that was the strategy a week ago. i think the speaker was trying to put the deal together, as we've seen the senate not -- i think that may become the strategy. i've always thought they would wait until the last ho
is not the right solution. we can still count on government to disappoint us each and every time that we need their support, that's a beginning, yet we've had two 10% corrections already this year in stocks, including dividends. they are up close to 14%, and this type of environment, where you're probably going to see another 3% to 5% selloff because of this fiscal announce, fiscal irritation, and when you get that, you should take that money and put it to work. simply because when you look at corporate america, the average company, bill, is generating a 16% to 17% return on equity, record free cash margins and a federal reserve that has the pedal to the metal. what you and i have talked about before repeatedly, $4 in taxes for every dollar in phantom spending cuts. that's fiscal irritation, but the health of corporate america will be what ultimately prevails. >> sounds like david has been reading your book, rick santelli. >> it does. >> big fan of rick. >> this is such a perverse world we live in, okay. let's look as what's happening. down 158 in stocks and that pushed the ten-year yield und
value, at the turn of the 20th century where government spending was 9% of gdp, we're now at 25%. there are some that say, take what we give you and retrofit government to the size of 19% or 20%. do that first. he just wants to shrink what it's grown to, this unwielding federal government that -- don't you think 25% needs to come down? >> well, part of that is cyclical. >> okay. so at 3%? >> 21, 22. >> i would say 22. >> so we have to get it down to 20.5. >> the three big beasts in the budget remain medicare/medicaid, social security and defense. you have to cut almost everything else to zero to get close to balance or to make a big difference. so i think in today's world, given that those entitlements, even if you reform them and cut back back will increase as people like us eventually retire. it seems to me that sizing the government for something around 22 or so is probably doable. but not easy to get to. because you still have to have major cuts and major long titlement reform to get there. >> you see one of the major ceo guys, and i'm not going to quote which one, said yest
on the government. a court there deciding to let him go. he flew to the border with his attorney and his dad is driving him home to florida. his mother, incredibly relieved. >> it was like my first night i slept all night without getting up. it was just the thought of not wondering what's going on with him. can anyone hurt him tonight. he's eating, he's able to actually have a meal. you know, it's just -- i honestly can't totally process it until he's here. we're days away, so i'll take it. >> honestly he knows he made a mistake bringing in the gun but to be honest i'm happy his family's together for christmas. there are reports he surface from ptsd from his war time experience and his family says now he's got a stomach bug and a chest cold that could be pneumonia. if that gets worse they may stop along the way home at a hospital. >>> a lot of people didn't think he would get out for christmas. >>> a weather alert. the powerful storm is slamming the northeast. heaviest snowfall making a mess in syracuse, and as you can see, creating sloppy driving conditions on the roadways. early this week,
transfer $10,000 of your money, it triggers your bank that goes to the federal government. but you can go online and with free holiday shipping purchase a high capacity magazine. even the law enforcement in the communities have no way of know ing a large number of weapons, perhaps a bullet proof vest. that might send off a few alarms. making it harder to exercise the right to vote. we should think that people are more responsible owning a gun than casting a ballot. that is part of what is being revealed. >> i want to go to one other finding in this study about this. it is about the notion of people need guns for protection. >> there is no evidence that a gun in the home reduces the likelihood of severity during a break in. it is actually going to be usable in a way that will protect you. >> to the contrary. those same studies have shown, they are are more likely to go through if there is a gun in the house. what is more likely to happen is you are going to get shot. what happened is, they didn't kill the shooter. the shooter killed themselves. they were in able to get to it. >> they looke
, saddam's military in kuwait and return right, full governance back to the citizens of kuwait. >> his father once said -- told him, he said, the day i was born that boy is going to west point. it was literally a job he was born to do. boy, did he do it well. the nation is remembering him today. thank you for helping us do that, general spider marks. happy holidays to you. >> you as well. >>> former president george h.w. bush has a message for his admirers around the world. he's not going anywhere. in a message in thursday, his chief of staff said the 41st president's condition is not dire. becker said mr. bush has every intention of staying put and that we can "put the harps back in the closet." the 88-year-old mr. bush is in the intensive care unit of a houston hospital where he's receiving treatment for an elevated fever. >> still has his sense of human. >>> vladimir putin has signed a continue versional bill banning u.s. citizens from adopting russian children. the decision raising tensions between the two countries, seen for retaliation for a new law in the u.s. that seeks to puni
government bailout than meets the eye. liz macdonald tells us the white house is backing a plan to help out underwater mortgages and not just for government underwritten loans. shibani: let's take a look if you own these stocks on the nasdaq you are making money today. research in motion, netflix, a lot. dennis: the christmas movie box office cannot non-violent are rated westerns by quentin tarantino against a broadway musical based on a nineteenth century novel, was miserables and the musical won. universal's less miserables broken 18.one million dollar guarantees, tarantino break-in $15 million, the highest level christmas opening for and are rated film. elsewhere taylor swift is breaking up with stream music services. turn newest album read finished fifth week at number one but she refused to make it available on internet streaming services that the attendees her songs. other music acts may take notice. a great story in the wall street journal. an office building, number one times square, the bad news, it is mostly vacant. the good news is it brings in $23 million a year in ad revenue on
cliff, so note to the government. it does matter. >> yeah, but that's, as you say, part of it. laura, what else is going on? it just felt like we were going into a lackluster season here. what happened? >> i mean, there's been some discussion about weather trends as well, but whether or not we go over the fiscal cliff, consumers think next year we'll see higher taxes and lower entitlements. the only place in our space where we see a very significant fiscal cliff hit is aspirational customer, so the step-up customer into low-end tiffany's jewelry, for example, we just don't think they showed up this year. >> even if people, stacy, are going to be hit by higher taxes next year, at least some people are going to be hit by higher taxes next year, a lot of this is psychological, isn't it. you turn on the tv and you're feeling spooked, right? and once we have a deal or resolution, uncertainty taken away, will people unleash their spending? will this be unlocked? >> i think at the high end, yes, there will be some relief, and, you know, to laura's point, we were in tiffany over the weekend,
this morning it would be similar to the way that government protects air travelers from terrorists. >> there was intense debate on airplanes, guns have no place. yet we have a federal air marshal program i helped to oversee which provided a deterrent, increased the safety of the airlines and it's not like an armed camp when you go on the airlines. >> reporter: mark warner has an "a" rating but made it clear he disagrees with the idea and he thinks multiple steps must be taken to avoid mass murder. >> if my memory is correct there was an armed individual at columbine years ago and it didn't prevent that tragedy. i think we need a comprehensive approach. i think looks at protecting our schools and look at high volume magazines that can fire off so many rounds. >> reporter: the ceo said banning those high capacity magazines won't make any difference to make people safer. >> heather: peter, thank you. >> gregg: and a fox news extreme weather alert. two powerful winter storms lashing opposite ends of the country. one dumping rain in the west and the other raising hopes for a bit of a wh
. that town harbors a lot of anti government sentiment. liberated by rebels just a week ago. and because of that, they were targeted by the regime yesterday. they issues a statement and blame what happened to terrorists, and that's the term they use when talking about rebel fighters. the townspeople called for help. called for intervention from the syrian regime. and they sent in military and started killing and arrested terrorists there. diplomacy is still going on to forge some sort of path for syria. the joint u.n. arab league envoy to syria arrived in damascus last night and he left the country since then and spoke to reporters briefly this morning and told them about his discussions with assad. here is more of what mr. brahimi had to say. dana, mr. brahimi has since left syria he says the situation is dire and he hopes they can come to some agreement to alleviate the misery for the syrian people. >> you are on the phone, and lucky enough to get you face to face. thank you for that and for that report. as gruesome and grim as it was. >>> ahead on "starting point" criticism from the r
of government in american life, that's why it is so hard to get to a deal. >> how dramatic. who would think talking about money and fiscal issues would garner so much drama, jessica. >> reporter: well, it is washington. and it is a lot at stake. it is about people's taxes, and, you know, the social safety net in america. it is the difference between democrats and republicans. >> yeah. we're going to talk more about the money now. thank you, jessica yellin. appreciate it. to new york now, joining us rick neuman, chief business correspondent for "u.s. news & world report." i want to ask you about the tax increase if there is no deal and tax rates rise, when would workers begin to see that reflekr reflected in their paychecks? when does the pain start? >> this is not one tax hike. this is about nine different sets of taxes. and the one that would go up right away is the payroll tax. that was cut temporarily in 2 009, cut by two percentage points and will go back up by two percentage points and that would come out of workers' paychecks right off the bat. it would add up to something like $60, $
federal tax rates rising. government spending shrinking. and defending on details of your own situation, various tax breaks slipping away. in other words what we're calling the fiscal cliff. a plan to stop it all from happening still alludes washington, so congress has broken camp for the holidays and the president has gone to holiday on vacation. brianna keilar is out there for us in honolulu, eight days away from the fiscal cliff. are there any contacts occurring on this topic between the president and anyone in congress, briana? >> reporter: there is an open line of communication, i would say, with senate democrats, hala. but there is really no substantive conversations between the folks that you with need for there to be conversations between in order to strike a deal. the white house and congressional republicans, and perhaps more alarmingly, senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it th
. and you'll notice that when employer gets to around the adjusted withholding, the government spending cuts, those are also scheduled for january 1st and bound to slow the economy and some argue they'll weaken the military. congress has seen this coming, but an effort to limit the damage failed last week. republican house speaker john boehner could not persuade enough members of his party to let tax rates rise on incomes over a million dollars while sparing everyone else. dana bash is our senior congressional correspondent. dana, this time tomorrow, the president is supposed to be back, having cut his trip to hawaii short, the first lady, the girls are staying in hawaii. the senate is supposed to convene, but not necessarily the house. what is going to happen? >> reporter: well, we're not really sure. in fact, house republican leaders are having a conference call, i'm told, as we speak, to figure out that very question. they told their members that they would have 48 hours notice before they reconvene the house and so at the earliest, that would be on friday. but, you know, the action reall
's when the government reaches its legal borrowing limit. treasury can delay a debt crisis for a couple of weeks until february or march using emergency measures to keep the government operating until congress acts to fix this problem, too. >>> big news from toyota. they are announcing a record $1.1 billion settlement over that unintended accelerator issue which they say does not exist. toyota has always said it's been floor malts, stuck gas pedals and operator error but they're going to settle these cases to put it behind them. the bulk of the money will go to its customers past and present. they will install brake override systems for all vehicles identified by toyota as having a problem with the floor mats getting stuck. toyota set aside $250 million to compensate owners who sold their cars while their sales were plummeting over the bad p.r. and a separate 250 million will be used to compensate owners who don't qualify for that brake override system. finally, all 16 million current toyota owners will be eligible for a warranty on certain parts related to sudden unintended acceleratio
government troops over control of major cities. >>> andruw jones, free on bone this morning after being arrested outside atlanta on christmas on a battery charge. the gwinnett county detention center tells us there was a domestic dispute with his wife. the center fielder won ten straight gold gloves with the braves. played with the new york yankies last year and recently signed with a team in january pan. >>> shinzo abe has been elected prime minister. he held the same position six years ago but resign because of health problems. he helped his party dominate elections last month. he promised to revive the economy and create a recovery plan for last year's earthquake, tsunami and nuclear disaster. >>> six days to go before the fiscal cliff deadline and tomorrow could be make or break in determining if we steer clear or go over the edge. president obama is cutting his hawaiian vacation short and is leaving tonight and will be back tomorrow. that is when the house and senate is expected to reconvene. >>> starbucks weighing in with the own fiscal cliff campaign. workers at 120 d.c. area sto
to be the police chief accuses the government of carrying out massacres of innocent civilians and he says the military is nothing but armed gangs that kill. he says is he defecting to, quote, join the people's revolution. and the recovery in the housing market remains on pace. home prices rose 4.3% in october over last year, that is it the biggest percentage increase in more than two years. near record low mortgage rates and fewer foreclosures are helping spur sale which is in turn is boosting prices. and the world's longest high speed rail line is up and running and it's in, where else, china. the 1428 mile line spans more than half the country linking the capital of beijing to the southern chinese bloom city. trains will run at 186 miles per hour. >>> and civil rights icon nelson mandela has been discharged from a south africa hospital. 94-year-old former president will continue treatment at his home. he was hospitalized with a lung infection on december 8th. one week later, he had surgery to remove gallstones. i'm sure everyone's pleased to hear that he's doing well. >> thanks so much
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's government not letting up on its assault on its own people, and new concerns about a deadly mystery gas. we're live with the very latest on that. >> and video you want to see this morning. it could completely change space travel as we know it. it's an impressive development. that next. >> but first we go to break with a look at the christmas nights glowing in the negotiate in india. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purcha
vocal. >> they are important when you have a system of government in the house where you have to pass things. the majority itself. the majority of the majority. that was pretty much in effect when democrats controlled for 40 years as well. there were rare occasions. president clinton massed nafta, the free trade agreement in 1993. the majority of republican votes for it and democrats against it. it's only 20 votes, but that is the difference between boehner getting what he wants and not. if he loses, he can only lose fewer than that in january. he needs a bill that commands a lot of democratic support. >> people say it will be one of the most powerful people. it will be more powerful because she has the upper hand and she knows it. she will have to deal with it at least 75 to 100 votes. >> and again the marks sustain this idea of okay, this new more moderate congress coming in and these voices will be put down to a degree or will we see dire financial implications off the bat? >> the lesser because even if they managed to harsh out the small deal that president obama is putting forwar
and the government could be doing a lot more, martin, in order to protect the women of india. >> yeah. if not changing society, how about changing the laws? what are lawmakeri ins talking t doing in this particular case to protect women? and what about the issue of capital punishment applying in this case? >> well, capital punishment perhaps off the table just in terms of looking at this. that's not necessarily the answer that everybody wants. right now there's a lot of anger and that is reflected in calls for capital punishment. the signs that say, you know, hang the murderers, things like this, in new delhi today. i think moreover they're saying why don't we prosecute these people? why when it's a lower caste woman are they sometimes -- their crimes, their accusations are just brushed under the carpet? police are not paying attention. in some cases the victims are being made to marry their rapists. this isn't a solution for society. this is the ongoing problem that india faces. and all those people and some moving candlelight vigils and in their sometimes violent protests are demand
has, they won't have anymore, and they won't have the government assistance programs to rely on. may not have the same effect we saw in the last recession. >> the ultimate consumer discretionary stocks, it occurs to me, dana, would be the luxury retailers like a tiffany which have suffered here recently. they in the past have been immune to a lot of vagaries of the consumer and the economy, but that hasn't been the case this time around. what happened? >> i think tiffany's a little bit different than some of the other luxury goods company. tiffany overall is working on its product, silver business which is a high margin category. didn't have enough novelty and newness in it and hopefully that's something they can fix for next year. >> wasn't just me then? >> not just you. >> exactly. >> i noticed that, yeah. >> dana on that point, the companies for stocks like tiffany's, what about aptitude in places like china in. >> overall when we see what's happening in china, so many new brands emerged in china, new companies on the luxury good fronts, and you've had the big conglomerates vogue
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